Pillar 04 · Tax
Reducing your tax bill, intelligently
Reducing tax is never an end in itself. The right instinct is to look first for an investment that makes economic sense, then identify the tax scheme that makes it more efficient. Doing it the other way round leads to buying economically poor products for a few thousand euros of tax savings.
Overall cap
€10,000/year
Overseas territories cap
€18,000/year
Outside the cap
PER, Malraux, déficit foncier
Worthwhile from TMI
30%
§ 01
An 18% tax reduction on an investment that returns minus 25% is not a good investment. The question to ask is never 'how much will I save?', but 'does the underlying asset stand on its own without the tax break?'.
§ 02
In order of robustness for most high-TMI profiles:
§ 03
€10,000 a year for most schemes (€18,000 including Girardin / Sofica / overseas investment). This cap fills up quickly for high-earning households, which makes prioritisation a strategic exercise.
§ 04
PER, the Malraux law, déficit foncier, and Monuments Historiques: these levers do not count towards the overall €10,000 cap. For a household that has already maxed out its cap, these are the real remaining levers.
Frequently asked questions
There isn't a single answer: it depends on your TMI, your horizon, your existing assets, and your risk tolerance. The PER is the most universally relevant option above a 30% TMI.
No. In some years, nothing is worth doing. Forcing a mediocre tax scheme just to 'do something' is often the worst decision you can make.
Start together
Let's talk it through directly. First conversation offered, with no commitment.
Or receive The Oak Letter every month.
Your messages are only used to reply to you. For advice tailored to your situation, nothing beats a real conversation with Camil.
